Interesting retail twist: Procter & Gamble's (PG +0.8%) move to appoint Macy's (M -0.4%) CEO...

|About: The Procter & Gamble Company (PG)|By:, SA News Editor

Interesting retail twist: Procter & Gamble's (PG +0.8%) move to appoint Macy's (M -0.4%) CEO Terry Lundgren to its board seems innocuous enough until it's factored in that the exec heads one of Bill Ackman's primary rivals of his J.C. Penney adventure (misadventure?). Macy's is in the middle of a legal battle over the use of Martha Stewart shops at JCP stores and is a beneficiary of the sales meltdown at the retailer. The issue is intriguing, but could be on Ackman's back burner for the moment with Herbalife finding new life.